# Lloyds TSB Foundation for N Ireland secures funding

- Link: https://fundraising.co.uk/2009/12/21/lloyds-tsb-foundation-n-ireland-secures-funding/
- Published: 2009-12-21T21:15:16+00:00
- Author: Howard Lake

Northern Ireland’s voluntary and community sector has received a major boost with
the confirmation that the Lloyds TSB Foundation for Northern Ireland has secured
long-term funding.

 

The Foundation has now concluded negotiations with its primary funder, the newly
formed and expanded Lloyds Banking Group.

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Together with sister foundations in England & Wales, and the Channel Islands, it
will receive “guaranteed funding” every year for four years from 2010 to 2013, and
at a higher level than in 2009. The three Foundations have also secured an ongoing
commitment for at least the subsequent six years.

 

Sandara Kelso-Robb, Executive Director of the Lloyds TSB Foundation for Northern
Ireland, said that the outcome ensures the Foundation will maintain and potentially
expand funding and support for Northern Ireland charities at a time of very difficult
and challenging economic circumstances.

 

She added: “Following turmoil in the world of banking there had been fears that 
the Foundation funding from Lloyds Banking Group would decrease in line with profits.
However, the newly negotiated revenue stream will allow the three Foundations to
inject funding of around £30 million annually into the UK Voluntary and Community
sector.”

 

The Lloyds Foundation in Scotland has refused to accept a new funding formula from
Lloyds Banking Group, claiming that the proposed new funding was a bad deal for 
the Foundation.

 

www.lloydtsbfoundationni.org

 

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